Regulatory Alerts2025-06-11 | DI&SD Circular No 01Launch of the Pakistan Real-Time Interbank Settlement Mechanism Plus (PRISM+)
The State Bank of Pakistan has launched the upgraded Real-Time Gross Settlement and Central Securities Depository system, PRISM+, effective June 16, 2025. Participants must transition to ISO 20022 messaging, utilize Transitory Accounts for daily liquidity management, and replace existing RTGS Over-the-Counter facilities with Raast OTC by September 30, 2025. The circular mandates operational readiness for Straight-Through Processing, retention of historical transaction data, and timely implementation of system advisories to ensure seamless integration.
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